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SF 2845

1st Engrossment - 90th Legislature (2017 - 2018) Posted on 03/22/2018 09:24am

KEY: stricken = removed, old language. underscored = added, new language.

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Current Version - 1st Engrossment

A bill for an act
relating to state government; requesting the legislative auditor to conduct a program
evaluation of the management of permanent school fund assets.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. MANAGEMENT OF PERMANENT SCHOOL FUND ASSETS;
EVALUATION BY LEGISLATIVE AUDITOR.

No later than February 1, 2019, and consistent with the authority provided under
Minnesota Statutes, section 3.971, the legislative auditor is requested to conduct a program
evaluation of the management of permanent school fund assets, including land, mineral,
and timber assets, the feasibility of a program to authorize school districts to borrow money
for capital improvements from the permanent school fund, and the governance relationships
between the Legislative Permanent School Fund Commission, the Department of Natural
Resources, and the school trust lands director.

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